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Russia Bans Crypto Mining in 10 Regions
The Russian government has officially approved a sweeping ban on cryptocurrency mining in several regions of the country, effective January 1, 2025, and lasting until 2031. This decision comes as part of an effort to balance energy consumption and address disparities in electricity tariffs across various regions.
The ban applies to specific areas including Dagestan, Chechnya, and several North Caucasus republics, as well as the Donetsk, Lugansk, Zaporizhia, and Kherson regions. Additionally, some parts of Irkutsk Region, Buryatia, and Zabaikalsky Krai will face mining restrictions during peak consumption periods, such as winter months.
The move aims to prevent energy shortages and maintain industrial demands. According to a government representative, the list of restricted regions may evolve depending on decisions by the commission overseeing electric power development.
Energy expert Sergey Kolobanov highlighted that this ban addresses both electricity shortages and tariff imbalances. He noted that “interregional cross-subsidization results in artificially low energy costs in some regions, subsidized by others.” Kolobanov emphasized that the timeline for the ban coincides with plans to end these benefits.
Vladimir Klimanov, director at the Center for Regional Policy, further underscored this point. “These measures aim to create more equitable business conditions across the country,” he stated.
Russia had previously legalized crypto mining in November, under the condition that individuals and businesses register with the Federal Tax Service (FTS). Private miners are limited to energy consumption of 6,000 kWh per month, while companies must disclose assets and wallet addresses.
Source: fullycrypto.com
